Economic Index: Columbia's Economic Indicators
January 26,2008
While economists debate whether the national economy is in recession, Columbia's latest economic indicators leave no doubt about the local downturn in 2007.
Construction activity plummeted while overall home sales dropped from 1,732 in 2006 to 1,694 last year and sales of new houses dropped from 580 to 416. (On the positive side, median price increased higher than the rate of inflation.)
Also, the local unemployment rate rose in November and sales tax revenue continued to decline. One ominous statistic is deep in our index: passenger boardings at Columbia Regional Airport dropped to 9,090 in 2007. If enplanements fall below 10,000 again this year, the city airport could lose its annual $1 million federal subsidy.
RECEIPTS
1% Sales Tax Receipts
November 2007: $1,290,700
October 2006: $1,518,227
Change (#): -$227,527
Change (%): -14.99%
1% Sales Tax Receipts
Fiscal Year-to-Date 2007:
$ 2,942,861
Fiscal Year-to-Date 2006:
$3,067,239
Change (#): -$124,468
Change (%): -4.06%
LABOR
Columbia Labor Force
November 2007: 95,234
November 2006: 95,236
Change (#): -2
Change (%): 0.0%
Missouri Labor Force
November 2007: 3,050,243
November 2006: 3,047,232
Change (#): 3,011
Change (%): 0.1%
Columbia Unemployment
November 2007: 3,269
November 2006: 2,839
Change (#): 430
Change (%): 15.1%
Missouri Unemployment
November 2007: 149,393
November 2006: 141,573
Change (#): 7,820
Change (%): 5.5%
Columbia Unemployment Rate
November 2007: 3.4%*
November 2006: 3.0%
Change (#): 0.4%
*lowest unemployment rate in a
metropolitan area in MO
Missouri Unemployment Rate
November 2007: 4.9%
November 2006: 4.6%
Change (#): 0.3%
CONSTRUCTION AND
HOUSING SALES
Building Permits – Residential
December 2007: 33
December 2006: 67
Change (#): -34
Change (%): -50.7%
Building Permits – Residential
Calendar 2007: 1,606
Calendar 2006: 4,141
Change (#): -2,535
Change (%): -61.2%
Value of Building Permits – Residential
December 2007: $1,829,836
December 2006: $4,986,838
Change ($): -$3,157,002
Change (%): -63.3%
Value of Building Permits – Residential
Calendar 2007: $132,527,958
Calendar 2006: $182,898,649
Change ($): -$50,370,691
Change (%): -27.5%
Building Permits – Detached Single Family Homes
December 2007: 6
December 2006: 15
Change (#): -9
Change (%): -60.0%
Building Permits – Detached Single Family Homes
Calendar 2007: 437
Calendar 2006: 561
Change (#): -124
Change (%): -22.1%
Value of Building Permits – Detached Single Family Homes
December 2007: $1,325,000
December 2006: $3,416,000
Change ($): -$2,091,000
Change (%): -61.2%
Value of Building Permits – Detached Single Family Homes
Calendar 2007: $78,032,101
Calendar 2006: $103,153,834
Change ($): -$25,121,733
Change (%): -24.4%
Building Permits – Residential Additions/Alterations
December 2007: 24
December 2006: 47
Change (#): -23
Change (%): -48.9%
Building Permits – Residential Additions/Alterations
Calendar 2007: 864
Calendar 2006: 3,238
Change (#): -2,374
Change (%): -73.3%
Value of Building Permits – Residential Additions/Alterations
December 2007: $287,336
December 2006: $395,836
Change ($): -$108,500
Change (%): -27.4%
Value of Building Permits – Residential Additions/Alterations
Calendar 2007: $8,432,348
Calendar 2006: $24,127,203
Change ($): -$15,694,855
Change (%): -65.1%
Building Permits – Commercial December 2007: 17
December 2006: 13
Change (#): 4
Change (%): 30.8%
Building Permits – Commercial
Calendar 2007: 277
Calendar 2006: 373
Change (#): -96
Change (%): -25.7%
Value of Building Permits – Commercial
December 2007: $8,383,145
December 2006: $26,503,200
Change ($): -$18,120,055
Change (%): -68.4%
Value of Building Permits – Commercial
Calendar 2007: $90,233,676
Calendar 2006: $148,310,962
Change ($): -$58,077,286
Change (%): -39.2%
Building Permits – Commercial Additions/Alterations
December 2007: 15
December 2006: 10
Change (#): 5
Change (%): 50.0%
Building Permits – Commercial Additions/Alterations
Calendar 2007: 213
Calendar 2006: 253
Change (#): -40
Change (%): -15.8%
Value of Building Permits – Commercial Additions/Alterations
December 2007: $6,920,449
December 2006: $752,700
Change ($): $6,167,749
Change (%): 819.4%
Value of Building Permits – Commercial Additions/Alterations
Calendar 2007: $37,144,344
Calendar 2006: $45,074,289
Change ($): -$7,929,945
Change (%): -17.6%
Units Sold in Boone County – Detached Single Family Homes
December 2007: 99
December 2006: 123
Change (#): -24
Change (%): -19.5%
Volume of Sales in Boone County – Detached Single Family Homes
December 2007: $16,993,102
December 2006: $21,218,283
Change ($): -$4,225,181
Change (%): -19.9%
Median Price of Home Sales in Boone County
December 2007: $139,900
December 2006: $148,750
Change ($): -$8,850
Change (%): -5.9%
Median Price of Existing Home Sales in Boone County
December 2007: $129,900
December 2006: $135,000
Change ($): -$5,100
Change (%): -3.8%
Median Price of New/Not Lived in Home Sales in Boone ounty
December 2007: $206,000
December 2006: $194,000
Change ($): $12,000
Change (%): 6.2%
Units Sold in Boone County Detached Single Family Homes
Calendar 2007: 2,110
Calendar 2006: 2,312
Change (#): -202
Change (%): -8.7%
COLUMBIA REGIONAL
AIRPORT
Passengers on Departing Planes
December 2007: 645
December 2006: 721
Change (#): -76
Change (%): -10.5%
Passengers on Departing Planes, Yearly Totals
2007: 9,090
2006: 13,673
Change (#) -4,583
Total Air Traffic (commercial & private planes)
December 2007: 1,172
December 2006: 2,165
Change (#): -993
Change (%): -45.7%
UTILITIES
Water Customers
December 2007: 43,673
December 2006: 42,409
Change (#): 1,264
Change (%): 3.0%
Electric Customers
December 2007: 44,417
December 2006: 42,980
Change (#): 1,437
Change (%): 3.3%
Contributors include: Lori Fleming, Tammy Puett, Sarah Talbert, Carol Van Gorp and Jim Windsor
Compiled by David Walle
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